Location: Ohio County, KY | Metro: Breckinridge County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 42343 in Ohio County, KY metro reveals critical insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 42343 in fiscal year 2024 is set at $860, while the market rent based on Census ACS data stands at $901. This indicates that landlords can expect to charge slightly above the FMR, suggesting a positive margin for covering costs and generating profit.
Regarding the affordability of acquisitions, the median home value in ZIP 42343 is $145,268. However, due to the lack of data on days on market (DOM) and the percentage of homes sold with a price cut, it's challenging to assess the ease of acquiring properties. Investors should consider these factors when making decisions, as they can impact the overall cost and time required for property purchases.
Tenant demand is a crucial factor for rental investments. ZIP 42343 has a population of 1,267, with 26.2% of residents being renters. This means there are approximately 331 potential tenants in the area, which could support a modest rental portfolio.
In summary, the rent math in ZIP 42343 is favorable, allowing landlords to charge above the FMR. While the median home value is relatively low, the absence of specific data on DOM and price cuts makes it difficult to gauge the ease of acquiring properties. Tenant demand exists but is limited by the small population size. For investors looking to enter a niche market with manageable competition, ZIP 42343 presents an opportunity, albeit one that requires careful consideration of the local real estate dynamics.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.